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Buster Itd had purchased goodwill to the value of $100 000 recorded in its consolidatedfinancial statements . The goodwill has been determined to have an

image text in transcribed Buster Itd had purchased goodwill to the value of $100 000 recorded in its consolidatedfinancial statements . The goodwill has been determined to have an indefinite useful lifeHowever , one year later Buster Itd's cash generating units has been determined to haveincurred an impairment loss of $13 000 . What is the appropriate action for Buster limited tocomply with AASB 138 Intangible Assets " and AA SB 136 " Impairment of Assets ?a ) Write off goodwill in its entirety as goodwill no longer exists6 ) Recognise impairment loss of $13 000 and credit accumulated impairment goodwill( ) Amortise goodwill for 20 years using straight - line methodd ) Recognise impairment loss of $13 090 and credit equitye ) None of the given answers

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